Technology • NYSE
According to Zyberno, Doximity, Inc. (DOCS) shows a Value Trap signal — GREAT BUSINESS (78/100) with an apparent Margin of Safety of +42.8%, but a Brina Gap of -14.7% reveals the current price still assumes faster growth than the business can deliver.
According to Zyberno's DCF model, Doximity, Inc. (DOCS) trades at $26.73 against an estimated intrinsic value per share of $46.69 — a +42.8% Margin of Safety based on Owner Earnings of $273.95M TTM, projected at 24.5% growth for 10 years with a 2.5% terminal growth rate. The Brina Gap of -14.7% weakens the case: based on the company's ROIC (17.9%) and reinvestment rate (10.4%), the business can fundamentally grow at 1.9% — but the current enterprise value implies the market expects 16.6%. This places DOCS in the Value Trap quadrant of the Brina Matrix — a value-trap signal where the apparent discount is undermined by overpriced growth expectations. Zyberno's model translates this into a 5-year expected return of 34.2% annually.
Over the trailing twelve months, DOCS generated $273.95M in Owner Earnings. Capital was deployed as follows: $91.63M returned via share buybacks. Reinvestment rate: 10.4%. Owner Earnings have grown at 24.5% annually over the trailing five years using log-linear regression.